Akebia Therapeutics (NASDAQ:AKBA) Share Price Crosses Below Two Hundred Day Moving Average of $1.34

Shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.34 and traded as low as $1.30. Akebia Therapeutics shares last traded at $1.34, with a volume of 2,472,952 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AKBA. StockNews.com upgraded Akebia Therapeutics from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. HC Wainwright boosted their target price on Akebia Therapeutics from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th.

Akebia Therapeutics Stock Up 0.8 %

The firm has a 50 day moving average of $1.58 and a 200 day moving average of $1.34. The firm has a market cap of $280.56 million, a PE ratio of -4.79 and a beta of 0.79.

Akebia Therapeutics (NASDAQ:AKBA) last posted its quarterly earnings data on Thursday, March 14th. The biopharmaceutical company reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). The firm had revenue of $56.20 million during the quarter, compared to analysts’ expectations of $55.64 million. During the same quarter in the previous year, the company posted ($0.04) EPS. On average, research analysts anticipate that Akebia Therapeutics, Inc. will post -0.28 EPS for the current year.

Insider Activity at Akebia Therapeutics

In related news, SVP Steven Keith Burke sold 24,311 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $1.68, for a total value of $40,842.48. Following the transaction, the senior vice president now owns 711,376 shares in the company, valued at $1,195,111.68. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO John P. Butler sold 37,733 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $1.52, for a total transaction of $57,354.16. Following the sale, the chief executive officer now owns 2,091,150 shares of the company’s stock, valued at approximately $3,178,548. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Steven Keith Burke sold 24,311 shares of Akebia Therapeutics stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $1.68, for a total value of $40,842.48. Following the transaction, the senior vice president now directly owns 711,376 shares of the company’s stock, valued at approximately $1,195,111.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 187,893 shares of company stock worth $300,598. Insiders own 3.84% of the company’s stock.

Institutional Trading of Akebia Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. purchased a new position in shares of Akebia Therapeutics during the 1st quarter valued at $1,447,000. Compass Ion Advisors LLC bought a new stake in Akebia Therapeutics during the first quarter valued at $46,000. Cannon Global Investment Management LLC purchased a new position in Akebia Therapeutics during the first quarter worth about $51,000. Orchard Capital Management LLC increased its stake in Akebia Therapeutics by 29.9% in the 4th quarter. Orchard Capital Management LLC now owns 86,826 shares of the biopharmaceutical company’s stock worth $108,000 after acquiring an additional 20,000 shares during the last quarter. Finally, Sapient Capital LLC purchased a new stake in shares of Akebia Therapeutics in the 4th quarter valued at about $248,000. Institutional investors own 33.92% of the company’s stock.

Akebia Therapeutics Company Profile

Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for patients with kidney diseases. The company's lead product investigational product candidate is Vafseo (vadadustat), an oral hypoxia-inducible factor prolyl hydroxylase, which is in Phase III development for the treatment of anemia due to chronic kidney disease (CKD) in dialysis-dependent and non-dialysis dependent patients.